South African stocks edge lower as defensive plays weigh

JOHANNESBURG (Reuters) - South Africa's benchmark index ended slightly lower on Tuesday as a pull-back in some of the strongest performers this year cancelled out a rebound in recently beaten-down mining shares.

Investors also refrained from making aggressive bets at the start of the U.S. earnings season.

The blue-chip JSE Top-40 index inched down 0.16 percent to 33,930.95 points after setting a 2013 low of 33,774.82 during the session. The wider JSE All-share index edged down 0.11 percent to 38,540.81.

"We are seeing a bit of a sell-off on some of the shares that have actually been holding up nicely this year," said Ferdi Heyneke, a portfolio manager at Afrifocus Securities.

"At the same time, some can see value in mining shares because they have been hit quite a lot this year."

Global brewer SABMiller, one of the four best-performing stocks on the benchmark index this year, lost 2.5 percent.

Private hospital group Mediclinic retreated 1.87 percent to 63 rand, paring this year's gains to just under 15 percent.

Mining shares restricted the downside momentum, boosted by higher commodity prices and Chinese data suggesting sustained demand from the world's biggest consumer of industrial metals.

Base metals producer Assore, the second-worst blue chip performer this year, jumped 7.03 percent to 293 rand.

Gold Fields, the worst blue chip performer year-to-date with a near one-third drop, climbed 5.28 percent to 67.61 rand.

Elsewhere, Tsogo Sun surged 6.08 percent to 25.99 rand after the hotel and casino operator said it would invest $83 million expanding its two flagship casinos.

Source: http://news.yahoo.com/south-african-stocks-edge-lower-defensive-plays-weigh-160826840--finance.html

Ncaa Football Scores Plaquemines Parish michigan football michigan football askew blue moon ann romney